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Global Macro
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Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Sizeable Sell-Off Extends As CAD CPI and US Retail Sales Come Into View
- Canadian rates have continued to extend underperformance to their US counterparts today, buoyed by strong CAD housing data and the weak US Empire mfg.
- In GoCs, 2-5Y tenors lead the relative shift with 2YY +7.0bps vs +1.3bps for Tsys and 5YY +7.6bps vs +1.5bps.
- An eye is kept on the early June extension as it can help narrow Can-US yield spreads although that tends to weigh more heavily on the longer end (with RBC estimating 2-5bps) suggesting that is still to play out with 30YY +5.7bps vs +4.5bps for Tsys.
- Similar moves are seen in rates, with BAX futures down 3 ticks for the front Jun’23 and 7-7.5 ticks through to 3Q24 in contrast to at most -1.5 for the front SFRM3 and small gains for 2024 contracts.
- Two potentially key releases land tomorrow with US retail sales and CAD CPI together at 0830ET, followed by US IP at 0915ET.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.